by Maïa Roffé
After a year of online viewing rooms (OVRs) and closed-door webcast auctions in 2020, the third edition of “The Art Market Day” focused on a burning topic: NFTs, cryptoart and metaverses, a future space on the Internet where you will be able to have immersive experiences as an avatar and, incidentally, buy and exhibit NFTs.
A non-fungible token (NFT) is a unique, non-interchangeable unit of data associated with a digital file (a picture, sound, video, etc.) and stored on a digital ledger (blockchain). Think of it as a large database where information can be stored and transmitted securely using cryptographic processes. “An NFT can be just a certificate of an artwork’s authenticity or the artwork itself, digitally stored on a blockchain,” says Gauthier Zuppinger, who co-founded the market analysis platform NonFungible.com. He defines cryptoart, or a work of cryptographic art, as “any artistic creation of which at least a part exists digitally on a blockchain”. Click here to read more
